General permission for purchase of residential and commercial property in India. Why buy or Invest?
Location is everything in real estate. Makes sense to invest in good locations which are likely to appreciate. India presents good opportunity. India is most exciting and active housing markets. India has not only emerged as a IT-driven hotbed but also a powerhouse of manufacturing activity.
Invest in a Property in India Commercial Real Estate investment
Property prices always appreciate in Longterm and therefore considered as safe investments. Commercial Real Estate investment in India, will be highly profitable as India has emerged as an across the board low cost base which makes it attractive enough for Non-Resident Indians (NRIs) and multinationals to relocate in the country. More than one hundred of the Fortune 500 companies have a presence in as compared to only 33 in China which shows the true worth of Indian soil.
Property in India: Buyers of Properties and Business Purchasers can engage our services for cost efficient results.
Who Can Buy Property in India?
According to the general permission granted by the Reserve Bank of India, NRIs, PIOs & OCIs can purchase immovable property in India. But this general permission only covers the purchase of residential and commercial property. It does not allow the purchase of agricultural land, plantation property or a farm house in India.
Can I repatriate the funds got out of sale of Property in India?
An NRI, PIO or OCI can purchase immovable (commercial & residential) property in India using their repatriable funds. But a major clause regarding the purchase is that none of the payments can be made in foreign currency.
The buyer has to make the purchase in rupees through funds received in India via normal banking channels, or through funds maintained in any non-resident account under FEMA and RBI regulations.
Another condition is that the amount to be repatriated should not exceed the amount paid for the property in foreign exchange received through normal banking channel or by debit to an NRE account.India is most exciting and active housing markets. India has not only emerged as a IT-driven hotbed but also a powerhouse of manufacturing activity. Therefore invest in residential and commercial property in India.